Question

a man borrowed 140000 from a bank for 2 years interest compound annually the rate of interest being 8 percent for the first year and 8.5 for the second year find the amount and compound interest payable after the end of the second year please help me step by step ​

Answer 1

Answer:

Given,

principal,p =140000rs.

time,t = 2 years

interest rate for rhe first year, R1= 8%

interest rate for the second year,R2 = 8.5%

we have the formula,

Amount = p(1+r1/100)(1+r2/1)

• 140000(1+8/100)(1+8.5/100)

• 140000(108/100)(1085/1000)

• 140000×( 108/100 × 1085/1000)

• 164052rs.

compound interest payable = A - P

=164052-140000

=24052Rs

Answer 2

Answer:

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